- 200 cryptocurrency trading services providing firms’ data have been leaked by the Estonian authorities mistakenly.
- This happened in the process of gathering data by the nation’s money laundering bureau about Estonia’s cryptocurrency asset industry.
In the process asking companies for the data about their business nation’s money laundry agency which is the part of the Estonian Police and Board Guard Board sent a mass mail to the companies but failed to hide the email address of the recipients disclosing their identities in public.
The same incident took place in the BitMEX system but on a very large scale only a few weeks back.
Content of the email sent by the authorities
The email sent by the authorities asked for the answer to the list questions in details including data about the operation of the business. To respond to the email, firms are given 4 weeks’ time decided by the government authorities under Article 20 of Estonia’s Administrative Procedure Act, and giving a response to the mail is mandatory.
The collected data is then used to protect countries’ black money from getting launder.
There were no bad intentions behind sending of the email, it was just to collect data about the operations of the running cryptocurrency firms and make them follow the rules and restrictions created by the government.
But now because of the security breach, the whole process has come under questioning.
Estonian Authorities are obliged to maintain the recipient’s identity under the EU’s Regulation on Personal Data Protection (GDPR).
The most considerable thing is that this is the 2nd security of the month in the cryptocurrency trading sector.
The almost same thing happened in the BitMEX who mistakenly shared the email addresses of its own users by sending a mass email and not hiding the addresses for the other recipients.
This is a serious issue regarding the security of users on cryptocurrency trading platform, every user has a right to conceal his/her identity on the digital platform.